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Thu Oct 31, 2019, 03:00 AM

"They think they are rich because they are smart and smart because they are rich."

https://theconcourse.deadspin.com/the-adults-in-the-room-1837487584

The tragedy of digital media isnít that itís run by ruthless, profiteering guys in ill-fitting suits; itís that the people posing as the experts know less about how to make money than their employees, to whom they wonít listen.

...

A metastasizing swath of media is controlled by private-equity vultures and capricious billionaires and other people who genuinely believe that they are rich because they are smart and that they are smart because they are rich, and that anyone less rich is by definition less smart. They know what they know, and they donít need to know anything else.

...

Since Great Hill Partners bought this company in April, the CEO and his newly hired C-suite have gone to great lengths to show they are the adults here, and that the employees of this company who preceded them are children in desperate need of parenting. They have attempted to institute a dress code and rules about the hours during which employees must be sitting at their desks. They have attempted to intimidate reporters out of reporting true stories about the dysfunction they have created. They have told experienced product managers that quality-assurance testing and other widely accepted best practices are unnecessary because their years of experience are better substitutes. They have driven out several senior managersómost of them women, myself includedóby undermining us and condescending to us at every turn.

...

The numbers apparently do not matter to my ostensibly numbers-obsessed bosses, for reasons I canít quite understand. When I have told them that the data show that non-sports content brings more traffic and more revenue opportunities, I have been ignored. When I have told them that the data show that readers prefer publications with a distinctive point of view, that Deadspin succeeds precisely because it doesnít try to be all things to all people, I have been told that being all things to all people is in fact exactly the way to grow pageviews. ... But the adults in the room know that weíre wrong, despite all evidence, because they just know.


What the world needs is rich people with the best brains, with all the best words... Rich people who are stable geniuses. Rich people with great and unmatched wisdom.

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Reply "They think they are rich because they are smart and smart because they are rich." (Original post)
DetlefK Oct 31 OP
Mike Nelson Oct 31 #1
I_UndergroundPanther Oct 31 #2
Stuart G Oct 31 #3

Response to DetlefK (Original post)

Thu Oct 31, 2019, 03:15 AM

1. This is so true...

... the Facebook guy, the Apple guy, Oprah, etc are intelligent people. Our current President is not... but, because he's very wealthy, he thinks he's smart. He's not even smart enough to know his failings. Smart people know where their weaknesses are, as well as their strengths - you account for weaknesses, which the Donald can't control.

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Response to DetlefK (Original post)

Thu Oct 31, 2019, 10:18 PM

2. We don't need rich people.

Without their manipulating,incompetence,ignorance and arrogance and control issues the world would be better without rich parasites posing as know it alls. Fuck rich people.

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Response to DetlefK (Original post)

Thu Oct 31, 2019, 10:56 PM

3. People are rich because they are "lucky." Much wealth is inherited. Investing also involves

"luck." 36 years ago, which investment do you think would be better now? Sears, or a company created a few years earlier.."WalMart ? 35 years ago, which car do you think would sell better? Chevrolet or Toyota?...Also, did you think 35 years ago that there would be an "electric car company" started from scratch in 2003, and making lots of money selling "electric cars"? (Yes, Tesla is now making money)

One more to blow your mind....35 years ago, (1984 ok,) did you think that in 2019 you and most people would be carrying around a hand held computer with a TV camera in it? and also is your personal telephone that does not need to be hooked up to a line? (a computer like was shown in "Star Trek" but smaller (does not talk to you)

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